The Scuderia Bizzarrini P538 borrows its chassis from the Galmer Arbitrage GT. Like the Arbitrage, and following the spirit of the original Corvette-powered P538S, the new Bizzarrini prototype is powered by a mid-mounted Chevrolet LS7 V8. Although it does not seem that Giotto Bizzarrini was involved in the project himself, he is said to have given his approval.

The car is equipped with 20x9 and 20x12 Forgeline Centerlock DE3Ss with Matte Black centers and Gloss Black rims.